Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $77.17 Average PT from Analysts

Fortune Brands Innovations, Inc. (NYSE:FBIN) has been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $77.17.

Several brokerages have recently commented on FBIN. Barclays decreased their price objective on Fortune Brands Innovations from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Fortune Brands Innovations in a report on Tuesday, April 1st. They issued a “hold” rating and a $70.00 price target for the company. Royal Bank Of Canada cut their price objective on shares of Fortune Brands Innovations from $70.00 to $59.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 7th. Robert W. Baird decreased their price objective on shares of Fortune Brands Innovations from $56.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, UBS Group dropped their target price on shares of Fortune Brands Innovations from $90.00 to $82.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th.

Institutional Investors Weigh In On Fortune Brands Innovations

Several hedge funds have recently added to or reduced their stakes in FBIN. Vanguard Group Inc. lifted its stake in shares of Fortune Brands Innovations by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company’s stock valued at $821,840,000 after purchasing an additional 68,404 shares during the period. Wellington Management Group LLP raised its position in shares of Fortune Brands Innovations by 113.5% in the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company’s stock worth $373,079,000 after acquiring an additional 3,257,428 shares during the period. JPMorgan Chase & Co. raised its position in shares of Fortune Brands Innovations by 9.2% in the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company’s stock worth $295,598,000 after acquiring an additional 409,466 shares during the period. Amundi boosted its stake in shares of Fortune Brands Innovations by 24.1% during the 1st quarter. Amundi now owns 2,861,900 shares of the company’s stock worth $169,975,000 after acquiring an additional 555,036 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Fortune Brands Innovations by 22.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company’s stock valued at $143,130,000 after acquiring an additional 426,929 shares during the period. 87.60% of the stock is owned by hedge funds and other institutional investors.

Fortune Brands Innovations Stock Performance

Shares of Fortune Brands Innovations stock opened at $49.30 on Wednesday. The company has a market capitalization of $5.93 billion, a PE ratio of 14.46, a P/E/G ratio of 2.81 and a beta of 1.38. The company has a 50-day simple moving average of $52.13 and a two-hundred day simple moving average of $62.32. Fortune Brands Innovations has a one year low of $47.21 and a one year high of $90.54. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.72 and a current ratio of 1.41.

Fortune Brands Innovations (NYSE:FBIN) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. Fortune Brands Innovations had a net margin of 9.42% and a return on equity of 20.96%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm earned $0.83 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. Research analysts expect that Fortune Brands Innovations will post 4.24 EPS for the current fiscal year.

Fortune Brands Innovations Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Tuesday, May 27th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.03%. The ex-dividend date was Tuesday, May 27th. Fortune Brands Innovations’s payout ratio is 29.33%.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.